EasyT Inc. wants to introduce a new faster jet into the market. This project requires the following investment: Manufacturing equipment in the amount of $$5\mathrm{.}0$ million and an initial $$3\mathrm{.}2$ million investment in net operating working capital. Lily spent and expensed $$40$ million last year on research and product development. Rather than build a new manufacturing facility, Lily plans to install the equipment in a building it owns but it is not now using. The building could be sold for $$32$ million after taxes and commissions. The company also plans to use a vacant lot adjacent to the building for parking for the project. The site requires $$1\mathrm{.}0$ million worth of improvements before it is suitable. The company had bought the piece of land $5$ years ago for $$15$ million and has been empty ever since. Today, the value of the land net of taxes is estimated at $$22\mathrm{.}5$ million. The tax rate is $30\%.$

What is the initial investment outlay $($IO$)$ for the NPV evaluation of the project? Since the IO is a cash outlay, enter the answer using the negative sign $(-)$ in front of the first digit of your answer.

Enter your answer in millions. For example, if you obtained $-$$$3,450,000$ then enter $-3\mathrm{.}45$; for $-4,000,000$ then enter $-4\mathrm{.}00$